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The Co-operative Bank*
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Key Extracts |  Financial Statements 2002 |  Our Performance |  Home 
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Consolidated Profit and Loss Account
 Consolidated Balance Sheet
 Movements in Shareholders' Funds
 5 Year Financial History >>

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Key Extracts : 5 Year Financial History
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Consolidated Profit and Loss Account History
1998
£m		 1999
£m		 2000
£m		 2001
£m		 2002
£m		 Change
£m		 Change
%
Net interest income 241.0 278.5 294.1 313.5 329.6 16.1 5.1
Non-interest income 113.4 124.8 134.9 142.1 153.8 11.7 8.2
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Operating Income 354.4 403.3 429.0 455.6 483.4 27.8 6.1
Operating Costs (241.0) (261.7) (272.9) (281.9) (290.8) (8.9) 3.2
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Profit before bad debts 113.4 141.6 156.1 173.7 192.6 18.9 10.9
Provisions for bad debts (41.6) (53.3) (59.9) (66.2) (70.1) (3.9) 5.9
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Operating profit 71.8 88.3 96.2 107.5 122.5 15.0 14.0
Associated undertakings
& exceptional items		 1.8 0.3 0.1 - - - -
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Profit before taxation 73.6 88.6 96.3 107.5 122.5 15.0 14.0
Taxation (22.8) (27.5) (29.8) (31.7) (36.6) (4.9) 15.5
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Profit after taxation 50.8 61.1 66.5 75.8 85.9 10.1 13.3
Minority interests (0.9) (1.4) (1.7) (1.8) (2.2) (0.4) 22.2
Dividends (5.5) (5.5) (5.6) (5.5) (5.5) - -
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Retentions 44.4 54.2 59.2 68.5 78.2 9.7 14.2
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Average numbers of staff 4,049 4,010 4,100 4,067 4,161    
Net interest margin % 4.7 5.0 4.8 4.4 4.2    
Cost/income ratio % 68.0 64.9 63.6 61.9 60.2    
Return on opening equity
shareholder's funds %		 26.4* 25.5* 22.2* 21.0* 19.8    
Earnings per share 6.34p 7.75p 8.46p 9.79p 11.17p    
Consolidated Balance Sheet History
  1998
£m		 1999
£m		 2000
£m		 2001
£m		 2002
£m
Equity share capital 35.0 35.0 35.0 35.0 35.0
Reserves 177.5* 231.7* 290.9* 359.4* 437.6
Preference shares 60.0 60.0 60.0 60.0 60.0
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Shareholders' funds 272.5* 326.7* 385.9* 454.4* 532.6
Minority interests 8.9 15.2 16.3 17.4 18.9
Subordinated liabilities 198.1 192.9 179.1 179.4 179.6
Debt securities in issue 56.8 62.4 54.1 87.5 5.0
Deposits by banks 599.0 912.3 750.4 727.3 748.5
Deposits by customers 4,196.2 4,533.0 5,186.3 6,115.8 6,902.0
Other liabilities 207.9* 191.3* 216.2* 244.4* 301.0
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  5,539.4 6,233.8 6,788.3 7,826.2 8,687.6
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Tangible fixed assets 60.8 64.7 69.2 67.3 78.4
Loans and advances to banks 431.3 493.9 580.6 733.2 1,291.0
Loans and advances to customers 2,784.0 2,978.1 3,363.7 3,869.2 4,384.6
Debt securities and bills 1,978.4 2,375.6 2,417.2 2,751.0 2,496.1
Cash, balances at central banks and
items in the course of collection from
other banks		 152.9 210.1 178.6 259.3 262.7
Other assets 132.0 111.4 179.0 146.2 174.8
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  5,539.4 6,233.8 6,788.3 7,826.2 8,687.6
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* Restated (see page 37 of the full Financial Statements 2002 report pdf)
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The financial information set out above does not constitute the company's statutory accounts for the year ended 11 January 2003 or the year ended 12 January 2002, but is derived from these accounts. Statutory accounts for 2002 are available: follow this link to download. The auditors have reported on those accounts; their reports were unqualified and did not contain a statement under section 237 (2) or (3) of the Companies Act 1985.